The likelihood function of a seasonal model, Yt=pYt-d+et as implemented in computer algorithms under the assumption of stationary initial conditions is a function of p which is zero at the point p=1. It is a smooth function for p in the above seasonal model with a well-defined maximum regardless...

The objective of this paper is to investigate the relationships between Spanish electricity spot prices and the US dollar/Euro (USD/Euro) exchange rate during the period 2005-2007, taking into account the study of the association between dollar and oil prices, in order to better understand the...

The 2006 spike in corn-based ethanol demand has contributed to the increase in basis volatility in corn and soybean markets across the United States, which has, to a significant degree, led to the observed large jumps in the prices of the two commodities. Despite the overall rise in basis...